OSAI slated to recommence operations
September 18, 2009 | By KNews | Filed Under News
Bosai Minerals Group Incorporated has announced plans to resume production at its refractory grade (RASC) bauxite operations here, having ceased production earlier in the year due to the dramatic deterioration of global demand.
The privately held Chinese company has reported to Industrial Mineral that it would restart at least one of the two kilns operated by its Guyana entity, Bosai Minerals Group (Guyana) Inc. (BMGG). The site is located at Linden.
Despite the start up of the kiln, demand for bauxite remains sluggish compared to previous years, and a production target of some 280,000 tonnes for 2009 has been reduced by 80,000 tonnes.
This compares to a total sales volume of about 500,000 tonnes in 2008 when the market was at its peak.
Speaking to local media operatives, Steven Ma, BMGG General Manager said that the company was scheduled to meet with workers to provide an update on the market and to quell rumours that it will mothball the operation.
Bosai has been operating in Guyana since 2007 having purchased 70 per cent shares in the operation for US$46M from Canada-based IAMGOLD Corp.
The government of Guyana owns the remaining 30 per cent.